Dominion paid $142 million in taxes to Virginia localities last year

Published May 31, 2013 by Robert Powell, III

Dominion Virginia Power, the commonwealth’s largest electric utility, paid nearly $142 million in taxes to Virginia localities last year, about $10 million more than it paid in 2011.

Surry and Louisa counties, the location of the company’s nuclear power stations in Virginia, each received the single largest payment, about $12.8 million, Dominion Virginia Power said. 

After Surry and Louisa, the largest payments were made to Fairfax County, $11.3 million; Prince William County, $9.6 million; Chesterfield County, $8.5 million; the city of Chesapeake, $7.2 million; and the city of Richmond, $6 million.

Typically, the largest payments go to localities where the company’s power stations are located.

The taxes are assessed annually on all of the company’s real estate, property and power-related assets, including buildings, power stations, transmission and distribution power lines, substations and other facilities.

A breakdown of tax payments showed Virginia counties in 2012 received a total of $105.1 million, while cities got $35.1 million, and towns received $1.6 million.

Dominion Virginia Power is a subsidiary of Richmond-based Dominion Resources, one of the nation’s largest producers and transporters of energy.